Growth & Competitive Advantages

Drive Transformation Strategies

Digital transformation supports innovation and improves business performance, ultimately helping businesses to stand out from the pack.

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It's clear that digital transformation triggers investment, contributing to overall business value and success. We've identified that 60% of businesses with 1,000 to 4,999 employees are already undergoing the transformation. However, revenue growth is still the main objective for many businesses as opposed to digital transformation success.

Cloud solutions form the backbone of successful transformation initiatives with 41% of midmarket businesses planning on investing in cloud services as a priority, which is on the same level as security. Cloud is adopted to support innovation, not reduce cost or complexity. This is because innovation targets business objectives rather than IT pain points. Within the Finance industry, 71% of midmarket businesses are focused on winning business from competitors, 50% of which have already invested in cloud solutions, with 42% planning to do so in the near future.

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Methodology

IDC conducted a survey of 120 executives from finance, operations, IT, and cybersecurity at organizations with 500 to 10,000 employees headquartered in the U.K. with multiple offices across the globe. This was backed up by additional in-depth interviews with executives across the four roles to gather additional insights and real-life experiences.

The goal was to understand the strategic and business priorities and objectives of the global midmarket, across different functions, and how technology is used to achieve these objectives, and to understand their IT pain points and how centralization and third-party management service providers can help.